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Feb 5, 2013
02/13
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what's a better way to reduce the deficit? >> pro-growth policies and i think we can do that through comprehensive tax return where we can lower rates, broaden the base and have a less complicated tax code and independent experts show if we can do that with spending cuts, we can create 1 million jobs in the first year. >> well, it just seems like we keep kicking the can down the road, delaying, delaying, delaying. the cbo says the automatic budget cuts would cut our gdp in half. given that, does it make you more inclined to sign on to the president's plan? >> look, house republicans passed last august a plan to change the mix of those spending cuts in the first year, and that's still out there, but what the president did, he's got his revenue at beginning of the year. more revenue will just hurt the economy. it will cost us jobs, so what we really need now is the second piece of the balanced approach the president called for in december which is the beginning of reining in our debt and deficits. again, on the president's commi
what's a better way to reduce the deficit? >> pro-growth policies and i think we can do that through comprehensive tax return where we can lower rates, broaden the base and have a less complicated tax code and independent experts show if we can do that with spending cuts, we can create 1 million jobs in the first year. >> well, it just seems like we keep kicking the can down the road, delaying, delaying, delaying. the cbo says the automatic budget cuts would cut our gdp in half....
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Nov 13, 2013
11/13
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i would ignore changes in the deficit. import growth, 270 -- 230 billion plus in september would support the view that the u.s. economy is improving. >> thank you so much. we will be watching all of that when we come back. stay with us. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. geothe last thing i want iswho doesnto feel like someone is giving me a sales pitch, especially when it comes to my investments. you want a broker you can trust. a lot of guys at the other firms seemed more focused on selling than their clients. that's why i stopped working at my old brokerage and became a financial consultant with charles schwab. avo: what kind o
i would ignore changes in the deficit. import growth, 270 -- 230 billion plus in september would support the view that the u.s. economy is improving. >> thank you so much. we will be watching all of that when we come back. stay with us. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick...
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Jun 4, 2013
06/13
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a lower budget deficit. it's also dependent, to some extent on the negative aspects of quantitative easing, raised by esther george, raised by mr. fisher at dallas. you know, there are negative aspects in terms of the zero bound interest rates that are filtering out into the economy and stagnating, keeping growth down as opposed to raising interest rates. just to finish the thought, maria, you know, chairman bernanke and other central banks basically have been working with this model that if you raise asset prices, that, eventually, it filters down in a wealthy effect to, you know, stimulate the real economy. that really hasn't happened, as you pointed out, in terms of my outlook. 2.5% growth, you know, from trillions of dollars worth of check writing. i think it's suspect. >> yeah, actually, it's pretty extraordinary. but, i feel like bernanke's bailing out policy makers. if bernanke weren't there, we wouldn't have any stimulus, right? where's the stimulus coming from the fiscal side of things and would you
a lower budget deficit. it's also dependent, to some extent on the negative aspects of quantitative easing, raised by esther george, raised by mr. fisher at dallas. you know, there are negative aspects in terms of the zero bound interest rates that are filtering out into the economy and stagnating, keeping growth down as opposed to raising interest rates. just to finish the thought, maria, you know, chairman bernanke and other central banks basically have been working with this model that if...
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Sep 10, 2013
09/13
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they have a current account deficit. they have a fiscal deficit. they are being threatened by the fed raising rates. that's one where we'll probably take our time. overall, it's big business. i think i mentioned to you earlier, if we shift to latin america, whie shift down to mexico, that's interesting. we built our our brazil presence. we have 17 offices globally now. what it's affording us the opportunity to do is look around the different regions and countries, try to find places when there is dislocation. we expect the volatility to continue. there are enough things that go bump in the night as you mentioned. we are seeing some significant opportunity. i think you'll see kkr continue to invest capital fairly aggressively in these markets. >> what about the fed? i mean, do you think the tapering begins the next meeting, september 17, does it again then? >> you never know. our base view at kkr is it would be a great opportunity for the fed to get out. they have a question and answer session. if you think about them not doing mortgage tapering the
they have a current account deficit. they have a fiscal deficit. they are being threatened by the fed raising rates. that's one where we'll probably take our time. overall, it's big business. i think i mentioned to you earlier, if we shift to latin america, whie shift down to mexico, that's interesting. we built our our brazil presence. we have 17 offices globally now. what it's affording us the opportunity to do is look around the different regions and countries, try to find places when there...
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Feb 1, 2013
02/13
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we have a deficit problem that puts at risk this recovery. so, there's a lot of government action that's needed. and on that score we haven't been that productive. there's a lot of concern about the deficit, quantitative easing and whether this rally is fundamentally induced or as a result of the money that the fed has pumping into the system. >> that's been an issue, gary, as far as the federal reserve pumping money. it's all about the fed, not necessarily about fundamentals. >> right and. >> and the failed bond sale. how are you allocating money right now? >> so me and -- i and the other members of tiger, high levels of cash, less fixed income. the fear that interest rates will rise. but we're starting to allocate more to private equity and public equity with historic numbers in private equity. 20% across the board allocated to private equity where a lot of america's wealth has been built for individuals. there is a movement back towards equity. as i say, it's not a stampede. it's measured because there's still a lot of concerns about some
we have a deficit problem that puts at risk this recovery. so, there's a lot of government action that's needed. and on that score we haven't been that productive. there's a lot of concern about the deficit, quantitative easing and whether this rally is fundamentally induced or as a result of the money that the fed has pumping into the system. >> that's been an issue, gary, as far as the federal reserve pumping money. it's all about the fed, not necessarily about fundamentals. >>...
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Jan 2, 2013
01/13
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we can't keep running trillion plus dollar a year deficits indefinitely because otherwise you'll have the federal reserve balance sheet be miles bigger than the whole economy, and obviously that's not a comprehensible thing, so we really do have to deal with the spending side as well. and most of the measures that would have been dealt with in the spending, like gradually raising the age on social security with have no negative impact on the economyner team in any event. >> by the way, what do you think of today's rally, and it comes, you know, after a pretty good month of december anyway. are we fooling ourselves to see stocks go much higher here when we still have the spending part of the equation to be figured out in the next few month, or is this wall street looking past all of that and guessing that the economy will grow from here? >> well, i think there was so much anxiety built up over the cliff that almost any resolution of it would have brought a sigh of relief. also remember, this is the first part of january. a lot of institutions have an influx of new money that needs to b
we can't keep running trillion plus dollar a year deficits indefinitely because otherwise you'll have the federal reserve balance sheet be miles bigger than the whole economy, and obviously that's not a comprehensible thing, so we really do have to deal with the spending side as well. and most of the measures that would have been dealt with in the spending, like gradually raising the age on social security with have no negative impact on the economyner team in any event. >> by the way,...
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May 23, 2013
05/13
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the problems that we have here at home that haven't gone way, that have to do with the debt and the deficit. they're concerned about regulatory. the regulatory impact. they're concerned about the impact of the affordable care act. so they get it. i think they get it a lot more so than a typical retail investor. so what we're seeing right now on the markets, we're really not looking at this as tremendous buying opportunities. we're a little more concerned that this is the precursor to some of these more global macro issues coming to the forefront. >> so then, i guess, carrie, that you've got to believe that some of the money on the sidelines is not coming in. >> well, i don't think it's going to come into straight, long-only strategies. where we're seeing it come in and where we see high net worth individuals receptive are with these alternative type strategies that can manage risk a lot better than being long only. >> robert, do you see that as well, based on what you're looking at in terms of wealthier investors today? do they want longer and sort of a little more complicated strategies ra
the problems that we have here at home that haven't gone way, that have to do with the debt and the deficit. they're concerned about regulatory. the regulatory impact. they're concerned about the impact of the affordable care act. so they get it. i think they get it a lot more so than a typical retail investor. so what we're seeing right now on the markets, we're really not looking at this as tremendous buying opportunities. we're a little more concerned that this is the precursor to some of...
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Oct 15, 2013
10/13
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i look more at the deficit, which has shrunk dramatically. everyone talks about debt but it's debt as a percentage of gdp. it's a percentage of debt to gdp, which we need to be around 65% to be at aaa. we those make no sense. we are smarter as a country than to have plunt objects. or something like medicare. and on the flip side we will have to make sure its revenues are involved. >> do you think when revenue needs to be included how does revenue come into play? >> when we look at the deficit it's receipts versus spending. now it's close to the four. we need corporate tax reform. it's clear that we have to rid loopholes. >> do you think the president believes that? >> absolutely. the president would be for cop a rat tax form. he would be for manufacturing a better rate to get manufacturing boosted. remember, we talked about it two years ago. >> i want to show you the board here. the dow jones futures are down 113 points. it's indicating a decline of about 113 points on the dough. this is all because of the news we just got from fitch. putting
i look more at the deficit, which has shrunk dramatically. everyone talks about debt but it's debt as a percentage of gdp. it's a percentage of debt to gdp, which we need to be around 65% to be at aaa. we those make no sense. we are smarter as a country than to have plunt objects. or something like medicare. and on the flip side we will have to make sure its revenues are involved. >> do you think when revenue needs to be included how does revenue come into play? >> when we look at...
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May 9, 2013
05/13
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the deficit is $200 billion below where people thought. we are not going to have a debt crisis, a debt ceiling crisis. i love what japan is doing. it's totally pro-growth. and i think there's just as good a chance that the fed will step up their purchases of bonds ass there that they'll slow it down. in other words, i don't see any shift in fed policy. add it up, you've got pullbacks, i understand that, but i think this is a cyclical, multi-year continuation of the bull market. >> jeff, what do you think? you say the rally is short lived. >> well, i don't know how short lived it is, maria, but i would say this. larry just talked about pullbacks. and we haven't had a meaningful pullback in this market in so long. it's hard to even remember when. all of the dips are being bought. this is a teflon market. it's not reacting to bad news, it's not reacting to fundamentals. i tell you, i'm out here at salt, i'm talking to guys. they love ben bernanke, because they see this being controlled almost exclusively by federal reserve policy. history tel
the deficit is $200 billion below where people thought. we are not going to have a debt crisis, a debt ceiling crisis. i love what japan is doing. it's totally pro-growth. and i think there's just as good a chance that the fed will step up their purchases of bonds ass there that they'll slow it down. in other words, i don't see any shift in fed policy. add it up, you've got pullbacks, i understand that, but i think this is a cyclical, multi-year continuation of the bull market. >> jeff,...
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Mar 21, 2013
03/13
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there's no pressure, really, to balance the budget, no pressure to wind down these immense deficits, because they can be financed at about nothing. so to companies that might properly be considered bankruptcy candidates can sustain themselves and their precarious lives through borrowing at such rates. >> and that's what we continue seeing. >> this so-called recovery has been painfully and in a very un-american way drawn out, undynamic, and to people who are looking for a job, downright cool. and the fed insists that for reasons of economics as well as humanity, it will continue to do what has not worked. >> and i want to get your take on cyprus and europe, but let me put that aside for a moment. because, you know, chairman ben bernanke commented on this yesterday. someone said to him, what about the downside risk of all of this easy money. and he said, look, there are no issues of inflation. we don't have any issues in terms of, you know, this free money so far. and in fact, it's been helpful to the economy. so, what is the downside risk? how does this end? >> well, this is the great
there's no pressure, really, to balance the budget, no pressure to wind down these immense deficits, because they can be financed at about nothing. so to companies that might properly be considered bankruptcy candidates can sustain themselves and their precarious lives through borrowing at such rates. >> and that's what we continue seeing. >> this so-called recovery has been painfully and in a very un-american way drawn out, undynamic, and to people who are looking for a job,...
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Feb 21, 2013
02/13
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bring back -- we have hundreds of billions of dollars of trade deficit now on energy, we can change all that. we have bridge to a cleaner world with natural gas, which is 50% cleaner than oil. >> all i heard in davos, the whole week, was about shale. and we've done a lot about shale on this program. we've got shale rich in this country. >> right. >> so, that's about fracking. what about keystone? >> we should be doing that, too. we'd much rather buy our energy from canada than deal with all the complexities that we've been stuck in for the last 20 years with foreign oil. so, we -- technology has given us this wonderful opportunity to have low energy cost. we have to seize that, rather than keep debating and discussing and fighting over it. we've got to get this budget compromise done. >> right. everybody, whether you're an individual institution, government, needs a budget. >> yeah, absolutely. >> we haven't had one. michael, great to have you on the program. michael porter, based at harvard business school. we'll have more on hewlett-packard when we come back. stay with us. changed you
bring back -- we have hundreds of billions of dollars of trade deficit now on energy, we can change all that. we have bridge to a cleaner world with natural gas, which is 50% cleaner than oil. >> all i heard in davos, the whole week, was about shale. and we've done a lot about shale on this program. we've got shale rich in this country. >> right. >> so, that's about fracking. what about keystone? >> we should be doing that, too. we'd much rather buy our energy from...
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Jun 7, 2013
06/13
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so what you need is a long-term plan that, you know, deals with the main drivers of the deficit, like entitlement spending -- >> how come we don't that have? i mean, this is, i think at this point, even people who are not knee-deep in this, like you and me and our viewers, they get it. they know these programs have to be reformed. how come we don't have a long-term plan? what do you think? >> i have no idea. it feels like you could put a republican economist and a democratic economist together in a room, we'd have a plan in two hours. i mean, i think there's that much agreement among the experts that it is, you know, it's hard to imagine. i think the big picture is, it's what we're doing now is exactly wrong, right? the sequester is just bad cuts to government spending, too fast, too soon, replace it with something much smarter. that deals with the long-term problem. >> all right, so we all know, the other uncertainty out there, federal reserve chairman bernanke's term is up in january 2014. you want the job, christina? >> i think there are lots of great candidates out there. i certai
so what you need is a long-term plan that, you know, deals with the main drivers of the deficit, like entitlement spending -- >> how come we don't that have? i mean, this is, i think at this point, even people who are not knee-deep in this, like you and me and our viewers, they get it. they know these programs have to be reformed. how come we don't have a long-term plan? what do you think? >> i have no idea. it feels like you could put a republican economist and a democratic...
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May 1, 2013
05/13
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needed to enact deficit reduction right now and wall street, 80% said yes. now that number is fallen to 52%. those who say the u.s. should take its time is up from something like 16% to almost 40%. those are the numbers right now, and i think what's happening, maria, is the numbers aren't biting and i couldn't disagree more with larry. to me, the most important problem in this country is unemployment. the thing that most endangers our standard of living in the future is a degradation of our workforce through long-term unemployment, and i think what should be happening is both the federal reserve and the fiscal side should be doing everything in their power to attack that. >> we already have 47 -- we already have 47 job training programs in the federal government, wasting, duplication, replication. look, i'm saying all that government stimulus we poured out in 2007, 2008, 2009, 2010, none of it worked. if it worked, steve liesman wouldn't be so worried about unemployment today. but the point i want to make here is, it is the private sector that will create th
needed to enact deficit reduction right now and wall street, 80% said yes. now that number is fallen to 52%. those who say the u.s. should take its time is up from something like 16% to almost 40%. those are the numbers right now, and i think what's happening, maria, is the numbers aren't biting and i couldn't disagree more with larry. to me, the most important problem in this country is unemployment. the thing that most endangers our standard of living in the future is a degradation of our...
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Oct 25, 2013
10/13
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that's bringing growth down 1 .5%, where it would be more beneficial to the economy to do longer term deficit reductions and then you have stuff not getting.com done, immigration reform, corporate tax reform. i'd say washington haven't quite killed the economy but it's worse than it should be. >> what's your reaction? >> i yield to no one in arguing, yes, ben is 100% right. of course, congress has been extremely destructive to the economy, whether it's fiscal drag or uncertainty lurching from crisis to crisis. that said, once you take the bar down really far you might be able to get over it. taking off from where john harwood was a second ago. i do see a small deal possibly in the making that revolves replacing some 2014 sequester cuts in ways that would diminish some of that fiscal drag and help the economy in 2014 and offsetting costs with back-loaded cuts of the type john mentioned. >> how far does the bar have to go for obama care exchanges which are having real difficulties right now? ben said those could be contributing to the economic lag. >> i'm skeptical on the obama care -- first of
that's bringing growth down 1 .5%, where it would be more beneficial to the economy to do longer term deficit reductions and then you have stuff not getting.com done, immigration reform, corporate tax reform. i'd say washington haven't quite killed the economy but it's worse than it should be. >> what's your reaction? >> i yield to no one in arguing, yes, ben is 100% right. of course, congress has been extremely destructive to the economy, whether it's fiscal drag or uncertainty...